The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-04-01
CONDITION OF THE MARKETS
A Scramble to Buy Wheat Caused by
the Uncertainties Now Prevailing.
Corn Comparatively Steady with but Little
Change in Prices Provisions Unchanged
with the Exception Of Short Ribs.
MONEY, RONDs AND STOCKS.

Abe Upward Movement Continues Through
the Day, and No Reaction Occurs.
NEW YORK, March 3L-Money on call ruled
higher, ranging from % 8 per cent, the last loan
being made til per cent, closing offered at z.
Prime mercantile paper, 81 06a per cent.
Sterling exchange was dull but steady and
unchanged.
The total sales Of stocks today were 31S, 4S5
shares, including the following: Delaware, Lack
awanna & Western lex. divicendj, IA, l0o Erie.
13,605; Missouri, Kansas & Texas. 6.l60; Lake
Shore, 10, $50; Louisville Il Nashville. $780,
Northwestern $500; Jersey Central. A. 42O; Ohio &
Mississippi, 1920: Oregon and Transcontinental,
$3.50; Reading, $50; ST. Paul. 72.775; st.
Paul g Omaha, $500; Texas Pacific, 1000; Union
Pacific, Is, 565; Western Union, 10. 1903; Wabash
Pacific, 4,420.
The upward movement in the stock market
was resumed to-day, and the steady appreca
ton Of values met with no setback of impor
lance throughout the entire day. Notwithstand-
ing the fact that money ruled higher than it has
yet done, and the fear of stringent money, to some
extent, restricted speculation, strong and even
buoyant tone was developed late in the day, and
the general distribution Of the trading was
marked feature. London was not an important
factor, although it had buying orders in several
OF the low priced shares, particularly the Gould
stocks. An unusual increase of buying orders
from Chicago was noticed and the belief became
general on the street that strong bull" pool
had been formed which began operations to day.
As ives to be expected, St Paul
made first favorite, aud it led the
entire market in activity and strength. The
other grangers responded, although their move
ment was much less important than that in the
irst named stock. All the specialties were more
animated and stronger, and Richmond & West
Point, Union Pacific and Western Union were
specially prominent IN the last hour. Among
the low-priced shares, Fort Worth & Denver
again commanded most attention, although it's
net movement for the day was insignificant
The opening was comparatively quiet but firm
at advances of small fractions over last even
ings final figures There special feature
In the trading in the first hour but the entire
list made further slight advances. After that
time, however, ST Paul suddenly sprang into
activity and quickly advanced ] per cent
There was noticeable increase in the amount
OF business done over the entire list and the up
ward movement continued in the afternoon.
There was less animation in the market, aud the
high prices of the morning were not maintained,
Fort Worth developing decided weakness. To-
ward the last hour, however, there was a renewal
of the confident buying and the close was moder.
atey active and strong at the best prices of the
day. The entire active list, with the exception
of Pacific Mail is higher this evening and st.
Paul is up L.; Union Pacific, II; Wabash pre-
ferred. l..
Railroad bonds moderately active, and
Erie seconds again came to the front with sales
of $3.50 ont of a total DAYS business of $l,-
$4,000 Closing prices, generally, show ad-
vapces. but in few instances they for more
than fractions. Detroit, Bay City g. Alpena
firsts rose I, to 10T; Houston & Texas. Waco
sevens, coupon off, 2, to 1l5, and Wabash gen.
erai trust receipts, 4, to 80.
Government bonds were dull but firm.
State bonds were dull and steady. Closing
quotations were: